TechFlow, August 2 — CryptoQuant analyst Axel posted on social media that since July 31, traders have begun actively closing long positions, leading to a clear sell-off in the futures market over the past 24 hours. When prices dropped to a local low of $112,000, net buy/sell imbalance over six hours plunged to an extreme level of -$175 million, reflecting strong bearish momentum. As the market partially stabilized, this indicator eased to -$78 million, narrowing the negative gap by 2.2 times, though overall market imbalance remains tilted toward bears. Over the past 24 hours, open interest increased to around $3.04 billion, with sellers continuing to accumulate positions, attempting to leverage bearish market sentiment.
Add to Favorites
Share to Social Media
